Deutsche Bank Wealth Management will now be offering regulated mortgages to its private banking clients in the UK.
The product will be available to clients who want to buy houses in the country and borrow £3m or more at competitive LTVs and interest rates.
Soon, the wealth manager will expand the offering to allow clients to buy houses in nine other jurisdictions, including France, Italy and Spain.
It will provide mortgage refinancing and equity release, as well as being open to “dry lend”, in which it will offer large mortgages without requiring assets under management.
This is for customers who wish to build a wider wealth management relationship.
Michael Morley, head of Deutsche Bank Wealth Management in the UK (pictured above), said: “This offering is a gamechanger for Deutsche Bank Wealth Management in the UK and demonstrates our commitment to this market.
“Our sophisticated clients are increasingly coming to us looking for higher-value borrowing for principal private residences, high-value buy-to-let properties and commercial buildings, here.
“We’ll now be able to meet the full spectrum of their needs in the UK, putting our deep international experience and investment banking capabilities to work on their behalf.”
Deutsche Bank Wealth Management has recently bolstered its team in London to build up its capabilities in mortgage lending.
It appointed Saydam Salaheddin as head of real estate for Europe and James Lockyer as head of UK regulated mortgages.
Justin Minien has also joined the team as head of mortgage brokers, and will support Matthew Spencer, head of intermediaries.
Balaji Prasanna, global head of lending & deposits at Deutsche Bank Wealth Management, added: “Our strength in providing lending and liquidity solutions is a key differentiator for our business and I am confident that this decisive step into real estate lending will give us another significant way to engage with our clients and provide market leading solutions that few competitors can match.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
N26 introduces MoneyBeam to UK users
N26 has introduced MoneyBeam to its UK users which will enable them to instantly send money to other users of the mobile bank...
NatWest names new CEO for Mettle
NatWest has named Marieke Flament (pictured above) as the CEO of its SME digital banking subsidiary Mettle...
CYBG to rebrand as Virgin Money and launch a new business current account
CYBG has revealed that it will rebrand to Virgin Money over the next two years with new Virgin Money-branded products...
New bank Chetwood Financial reveals long-term ambitions
Chetwood Financial is aiming to use technology to offer better deals to customers, having secured a banking licence late last year...
The opportunity for accountants to help businesses
In light of bank and building society branch closures, a new report published by Oxford Economics in partnership with Funding Circle has revealed that in the UK — despite the vast economic output generated by SMEs — small business lending accounts for only 2% of banks’ balance sheets...
Paragon Bank’s structured lending team passes £100m milestone
Paragon Bank’s structured lending team has passed its £100m milestone 18 months after launching...
Hanley Economic expands intermediary support team
Hanley Economic Building Society has appointed Kate McKeon (pictured above) as an intermediary sales assistant...
Gatehouse Bank names new direct adviser
Gatehouse Bank has appointed Robert Siddall (pictured above) as a direct adviser...
British Business Bank increases facility with Simply to £180m
Non-bank lender Simply has received a third facility of £60m from the British Business Bank under the latter’s ENABLE funding programme...
OakNorth provides facility for cloud platform provider acquisition
OakNorth has provided a loan to managed service and cloud platform provider Oncore IT for the acquisition of Fuse Technologies...
Monzo to launch first USA accounts this summer
Monzo has announced it will be launching its first accounts in the USA this summer...